The parent company of Fallas discount stores has filed for bankruptcy and plans to close 74 stores


» Top New Releases in Books

  • National Stores, parent company of discount-store chains Fallas, Conway’s, and Factory 2-U, filed for Chapter 11 bankruptcy protection on Monday. 
  • It plans to close 74 of its 344 stores. Its stores currently employ more than 9,800 people in 22 US states and Puerto Rico. 
  • Store closing sales will begin on Thursday.

National Stores
 Inc, which operates the Fallas, Factory 2-U and other discount apparel and housewares stores, on Monday filed for Chapter 11 bankruptcy, becoming the latest U.S. retailer to succumb to financial pressure as more consumers shop online.

The family-owned company founded in 1962 plans to close 74 of its 344 stores, which now employ more than 9,800 people in 22 U.S. states and Puerto Rico.

See the rest of the story at Business Insider

NOW WATCH: What it’s like inside North Korea’s controversial restaurant chain

See Also:

SEE ALSO: Retail defaults are at an all-time high — here are all the bankruptcies and liquidations so far in 2018

Post Author: martin

Martin is an enthusiastic programmer, a webdeveloper and a young entrepreneur. He is intereted into computers for a long time. In the age of 10 he has programmed his first website and since then he has been working on web technologies until now. He is the Founder and Editor-in-Chief of and Online Magazines. His colleagues appreciate him as a passionate workhorse, a fan of new technologies, an eternal optimist and a dreamer, but especially the soul of the team for whom he can do anything in the world.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.